Britain should get out of the electric vehicle business

A frantic round of last-minute lobbying is already underway. Officials are trying to stitch together a deal. And the Prime Minister Rishi Sunak is pushing hard to find a compromise that works for both sides. There are lots of negotiations over ‘rules of origin’ for electric vehicles that will allow Vauxhall to keep its plants open. But hold on. Although we should expect a deal to be done, as it usually is between the UK and the European Union, that should not obscure the bigger point. We are not going to be big players in EVs, and there is no point in trying to become one now. 

‘Rules of origin’ is the kind of subject that keeps trade nerds up at night. Under EU rules, a certain percentage of a product has to be made in the right country for tariff-free access to the market.